A bittersweet goodbye to 2011

Adios, arrivederci, au revoir, auf wiedersehen, sayonara, so long and good riddance 2011.

Ah, that felt good. And that’s the only nice thing that can be said about it.

This past year wreaked economic and physical devastation worldwide, dragging tens of millions into despair. It leaves a legacy of depression so widespread that virtually no one is untouched. Although painful, reflection on the dismal last 12 months may provide us perspective on the wreckage we have just negotiated, and perhaps, guide us in fashioning a better way forward.

It was a record year in many respects. In spite of all the ballyhoo about restricting federal spending our annual budget will still be in the red at $1.3 trillion. Shamefully, that’s not the record — but our $15 trillion federal debt, achieved in November, certainly is. In anticipation of that great event, for the first time in history the AAA credit rating of the United States was rescinded. At the urging of the president, at the last minute (Merry Christmas!) Congress passed a voluminous $600 billion omnibus spending bill — which no one read — chocked full of programs we can’t pay for and don’t need. That may well put us on track to repeat our historic achievement, earning us another credit downgrade this coming year.

We also racked up many records in 2011 in terms of jobs: Unemployment rates continue at the highest levels since the Great Depression, with historic highs for workers over age 50 and unemployment rates for blacks surging to 17 percent. The effects of this tragic performance may not be unexpected, but are nonetheless astounding: 49 million Americans now fall officially below the poverty line, with almost half of those classified in “deep poverty.” Which has led to record home foreclosures, topping the more than 1 million of last year. Mortgage rates are now at historic lows, breaking the 4 percent mark, and housing has seen an average cut of one-third in valuation. Gold prices soared to record highs exceeding $1600 per ounce while the valuation of our dollar remained at near-record lows. All sorry commentary on our state of affairs.

Suffice it to say that 2011 on the home front left much to be desired. When politicos avow their actions saved us from a fate that could have been much worse, I for one ache to have had the chance to experience the alternative.

On the international front, we saw the world population break the 7-billion mark. And world food prices soared to the highest levels ever. Average annual oil prices peaked at more than $110 per barrel, a record, pushing annual average domestic gas prices to $3.52, another record.

As for the Arab Spring uprisings and the riots throughout Europe, we’re not even going there. We’ll leave it to them to deal with their own train wrecks. The inconvenient truth though, is that we’re all on the same train. The fate of our economy may well hinge on the ability of our brothers and sisters across the pond to dig themselves out of the hole they dug.

Which leads me back to my point about perspective and the exercise of reflection. If we look backwards beyond 2011, past fascism, Marxism, socialism, communism and all the other isms of man’s invention, we must come to the conclusion that there is only one system that truly serves the people. In spite of all our attempts to tweak the formula, a limited government by the people — with a light hand guiding free enterprise — is by far our best option. Hope not for change in 2012: Make it happen.